Barron's topples Apple from World's Most Respected Company spot

Apple has spent the last three years at the top of Barron's annual ranking of the world's most respected companies, but has been toppled from its perch.

Warren Buffett's Berkshire Hathaway has stolen the crown, coming up from the 12th position last year. The Walt Disney Company is in second place; Apple is third; and rival Google is in fourth.

The bump for Berkshire Hathaway is likely about stock price, which is up 25 percent. Apple hasn't had that kind of luck with its stock just above $400, down from a high of more than $700 last year. Apple isn't alone in getting the bad news. McDonald's fell to eighth from third, while IBM moved to 10th place from second.

Barron's has been doing this list since 2005, surveying money managers in the world's largest 100 companies. This latest survey was conducted in late May and early June.